Singapore: Ceramic Statuette Market 2024

Ceramic Statuette Market Size in Singapore

In 2022, the Singaporean ceramic statuette market decreased by -34.8% to $X, falling for the third year in a row after two years of growth. Overall, consumption continues to indicate a deep reduction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Ceramic Statuette Production in Singapore

In value terms, ceramic statuette production expanded sharply to $X in 2022 estimated in export price. Overall, production posted a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 77% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Ceramic Statuette Exports

Exports from Singapore

In 2022, shipments abroad of ceramic statuettes and other ornamental articles increased by 126% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports showed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 217% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, ceramic statuette exports surged to $X in 2022. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for ceramic statuette exports from Singapore, with a 65% share of total exports. Moreover, ceramic statuette exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. Indonesia (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +105.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+40.1% per year) and Indonesia (-2.6% per year).

In value terms, the United States ($X) remains the key foreign market for ceramic statuettes and other ornamental articles exports from Singapore, comprising 65% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 18% share of total exports. It was followed by Indonesia, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +114.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+46.3% per year) and Indonesia (+1.7% per year).

Export Prices by Country

The average ceramic statuette export price stood at $X per ton in 2022, rising by 64% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ceramic statuette export price increased by +77.4% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and the United States ($X per ton), while the average price for exports to Italy ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ceramic Statuette Imports

Imports into Singapore

In 2022, the amount of ceramic statuettes and other ornamental articles imported into Singapore shrank dramatically to X tons, waning by -16.8% compared with the previous year's figure. Overall, imports saw a abrupt slump. The pace of growth was the most pronounced in 2017 with an increase of 20%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ceramic statuette imports skyrocketed to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of ceramic statuette to Singapore, with a 50% share of total imports. Moreover, ceramic statuette imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The third position in this ranking was taken by Indonesia (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+25.5% per year) and Indonesia (+4.9% per year).

In value terms, China ($X) constituted the largest supplier of ceramic statuettes and other ornamental articles to Singapore, comprising 50% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.3% share of total imports. It was followed by Indonesia, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+35.2% per year) and Indonesia (+11.8% per year).

Import Prices by Country

The average ceramic statuette import price stood at $X per ton in 2022, jumping by 59% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ceramic statuette import price increased by +97.6% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and Japan ($X per ton), while the price for Indonesia ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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